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MUTUAL FUNDS

Thrivent Account

You can purchase mutual funds right on our site with an online account.

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  • Set up an account starting with as little as $50 per month.1
  • Access your online account at your convenience.
  • Purchase funds without transaction fees or sales charges.

MUTUAL FUNDS & ETFS

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For guidance when investing, ask a financial professional about buying Thrivent mutual funds & ETFs.

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  • Additional fees may apply.

MUTUAL FUNDS & ETFS

Brokerage Account

If you already have a brokerage account, our mutual funds & ETFs can be purchased through online brokerage platforms by searching for Thrivent Mutual Funds and ETFs.

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  • Additional fees may apply.
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Here are some other options that may help you.

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This ETF is different from traditional ETFs. Traditional ETFs tell the public what assets they hold each day. This ETF will not. This may create additional risks for your investment. For example:

 - You may have to pay more money to trade the ETF’s shares. This ETF will provide less information to traders, who tend to charge more for trades when they have less information.

 - The price you pay to buy ETF shares on an exchange may not match the value of the ETF’s portfolio. The same is true when you sell shares. These price differences may be greater for this ETF compared to other ETFs because it provides less information to traders.

 - These additional risks may be even greater in bad or uncertain market conditions.

 - The ETF will publish on its website each day a “Proxy Portfolio” designed to help trading in shares of the ETF. While the Proxy Portfolio includes some of the ETF’s holdings, it is not the ETF’s actual portfolio.

The differences between this ETF and other ETFs may also have advantages. By keeping certain information about the ETF secret, this ETF may face less risk that other traders can predict or copy its investment strategy. This may improve the ETF’s performance. If other traders are able to copy or predict the ETF’s investment strategy, however, this may hurt the ETF’s performance. For additional information regarding the unique attributes and risks of the ETF, see the Principal Risks section of the prospectus.

1 New accounts with a minimum investment amount of $50 are offered through the Thrivent Mutual Funds "automatic purchase plan." Otherwise, the minimum initial investment requirement is $2,000 for non-retirement accounts and $1,000 for IRA or tax-deferred accounts, minimum subsequent investment requirement is $50 for all account types. Account minimums for other options vary.

Thrivent ETFs may be purchased through your financial professional or brokerage platforms.

Contact your financial professional or brokerage firm to understand minimum investment amounts when purchasing a Thrivent ETF.

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Thrivent High Income Municipal Bond Fund —
Class S
THMBX
Thrivent High Income Municipal Bond Fund
Class
Risk profile
The risk profile for this fund is Moderate
Target allocation
30% A or Above
55% BBB & BB
15% N/R and Below BB
Inception date
2/28/2018
As of
Net asset value
-
Daily NAV change
-
As of N/A
YTD return
0.32%
1-year return
5.14%
As of 04/30/2024
Net annual fund operating expenses
0.60%
As of
Sales charge
None
As of

Thrivent High Income Municipal Bond Fund seeks a high level of current income exempt from federal income taxes.

This Fund invests in a nationally diversified portfolio of municipal bonds of varying credit quality. Municipal bonds are debt securities issued by city, county or state governments to finance projects related to schools, airports, roads, bridges, sewers, hospitals, senior living facilities, etc. Municipal bonds are generally exempt from federal income taxes. The Fund holds at least 50% of its assets in bonds that are unrated or are rated BBB or below, but also has an allocation to higher quality investment-grade bonds. It expects to invest primarily in revenue bonds that are repaid from revenues generated by a project and may also invest in general obligation bonds backed by the issuer’s taxing authority. The Fund may also invest in “tobacco bonds” issued by states to securitize their settlements with tobacco companies. Higher yielding municipal bonds typically have more credit risk and longer duration than investment grade bonds.

The Fund may be suitable for investors who:

  • Seek income that is generally exempt from federal income taxes.  The Fund may invest in municipal securities that are subject to state and local taxes and/or the alternative minimum tax (AMT). While the dividends earned on a municipal bond fund are usually federally tax-exempt, any capital gains distributions, as well as realized capital gains from selling fund shares, may be taxable.
  • Have a medium- to long-term investment time horizon and a moderate risk tolerance.
  • Are willing to accept lower long-term returns in order to have a low to moderate level of risk and volatility.
Fund management

Our seasoned team of more than 140 investment professionals brings their deep expertise to managing each fund so you can feel confident in the choices you’re making. More than 80% have at least 10 years of experience, more than 50% have more than 20 years of investment experience, and more than 80% have earned the Chartered Financial Analyst designation, an advanced degree, or both.

  • Johan Å. Åkesson, CFA
    Johan Å. Åkesson, CFA
    Senior Portfolio Manager
    Managing this fund since 2018

    Mr. Åkesson joined Thrivent in 1993, and has served as portfolio manager and associate portfolio manager during various time periods since 1999. Read more.

  • Stephanie L. Woeppel
    Stephanie L. Woeppel
    Senior Portfolio Manager
    Managing this fund since 2023

    Ms. Woeppel joined Thrivent in 2022, serving as a portfolio manager. Read more.


Performance

All data represents past performance. Past performance does not guarantee future results. Investment return and principal value of the investment will fluctuate so that an investor’s shares, when redeemed may be worth more or less than the original cost. Current performance may be lower or higher than the performance data quoted.


Average Annualized Returns

as of 04/30/2024
0.60% Net annual fund operating expenses
1.22% Total annual fund operating expenses
Thrivent High Income Municipal Bond Fund Bloomberg 65% High Grade/35% High Yield Index Morningstar High Yield Muni Avg
3M -0.26% -0.25% 0.04%
YTD 0.32% -0.75% 0.32%
1Y 5.14% 3.66% 4.18%
3Y -1.57% -0.75% -1.67%
5Y 1.25% 1.82% 1.18%
Since Inception 2/28/2018 2.19% - -

The Adviser has contractually agreed, for a period of one year from the date of the most recent prospectus, to waive certain fees and/or reimburse certain expenses associated with the Fund. Refer to the Fees & Expenses table in the Fund’s prospectus. If this waiver had not been in effect, performance would have been lower.

See data by:

Yields

as of 04/30/2024
12 Month Distribution
3.97%
30 Day SEC
4.41%
30 Day SEC Pre-Waiver
3.79%
Monthly Distribution
4.18%

Taxable-Equivalent Yield

as of 04/30/2024
The yield an investor would need to earn on a taxable bond in order for its yield to be equivalent to a tax free investment.
Federal Tax Bracket Taxable-Equivalent 12-Month Taxable-Equivalent 30 Day SEC Taxable-Equivalent 30 Day Distribution
12.00% 4.51% 5.01% 4.75%
22.00% 5.09% 5.65% 5.36%
24.00% 5.22% 5.80% 5.50%
32.00% 5.84% 6.49% 6.15%
38.80% 6.49% 7.21% 6.83%
40.80% 6.71% 7.45% 7.06%
The two highest tax brackets (38.8% and 40.8%) include the additional 3.8% Net Investments Income Tax (commonly referred to as the "Medicare Contribution Tax".)

Growth of 10K

as of 04/30/2024
$11,431
Total market value
$2,051
Current value of reinvested dividends and capital gains

Calendar year performance

as of 04/30/2024

Characteristics

All data represents past performance. Past performance does not guarantee future results. Investment return and principal value of the investment will fluctuate so that an investor’s shares, when redeemed may be worth more or less than the original cost. Current performance may be lower or higher than the performance data quoted.


Holdings breakdown

as of 04/30/2024
Total number of holdings
160
Turnover ratio (as of 03/28/2024)
66%

Top 10 States

as of 03/28/2024
58.05%
of total assets
State
%
New york
10.48%
Florida
7.89%
Texas
6.70%
Wisconsin
6.55%
California
6.23%
Colorado
5.62%
Minnesota
4.23%
Arizona
4.17%
Illinois
3.16%
Pennsylvania
3.02%

Fund Diversification

as of 03/28/2024
N/A
N/A
  • Education
    30.61%
  • Health Care
    18.25%
  • Special Tax Revenue
    15.06%
  • Industrial Revenue
    11.49%
  • Transportation
    9.98%
  • Local/State Government
    3.80%
  • Utilities
    3.52%
  • Tobacco Settlement
    2.56%
  • Cash
    2.47%
  • Housing
    1.59%
  • Miscellaneous
    .67%



Credit quality rating distribution

as of 04/30/2024
N/A
N/A
Bond type
% of total
  • High Quality (HQ) Bonds
    58.54%
  • U.S. Government Guaranteed
    0.00%
  • AAA
    2.18%
  • AA
    7.06%
  • A
    12.31%
  • BBB
    36.99%
Bond type
% of total
  • High Yield (HY) Bonds
    16.83%
  • BB
    16.83%
  • B
    0.00%
  • CCC
    0.00%
  • CC
    0.00%
  • C
    0.00%
  • D
    0.00%
  • Non-Rated (NR) Bonds
    24.62%
  • May be HQ/HY/NR Bonds
    0.00%
  • ETFs/Closed-End Funds
    0.00%

Ratings

Morningstar

as of 04/30/2024
Category: High Yield Muni
Morningstar Information
Funds in category
Overall
2 out of five stars
185
funds in category
3-Year
3 out of five stars
185
funds in category
5-Year
2 out of five stars
176
funds in category
10-Year
Doesn't apply due to fund's inception date of 2/28/2018
Risk vs. category
Above Average
185
funds in category
Return vs. category
Average
185
funds in category

Morningstar ratings are calculated based on risk-adjusted return.


Distributions

as of 04/30/2024
Dividends Month End Nav
May 2023 $0.0313 $9.20
June 2023 $0.0292 $9.29
July 2023 $0.0303 $9.30
August 2023 $0.0307 $9.15
September 2023 $0.0291 $8.82
October 2023 $0.0324 $8.59
November 2023 $0.0306 $9.23
December 2023 $0.0303 $9.48
January 2024 $0.0348 $9.50
February 2024 $0.0307 $9.51
March 2024 $0.0298 $9.53
April 2024 $0.0355 $9.38

Trailing 12-Months; Dividend Schedule: Declared Daily, Paid Monthly


Capital gains - trailing 12 months

as of 04/30/2024
Record date Short term capital gains Long term capital gains Total
- - - -

Expenses, fees, and charges

Management Fees and Other Expenses 1.22%
Distribution/12b-1 Fee None
Total Annual Fund Operating Expenses 1.22%
Less Waiver (0.62%)
Net Annual Fund Operating Expenses 0.60%
Redemption Fee None
Transaction Fee None
Low Balance Fee $10 semiannually
Front-End Sales Charge None
Back-End Sales Charge None

The Adviser has contractually agreed, for a period of one year from the date of the most recent prospectus, to waive certain fees and/or reimburse certain expenses associated with the Fund. Refer to the Fees & Expenses table in the Fund’s prospectus. If this waiver had not been in effect, performance would have been lower.


Minimum investment

Initial for non-retirement accounts $2,000
Initial for retirement or tax deferred accounts $1,000
Additional Purchases $50
Initial minimums are waived when a recurring investment of $50 or more is set up

Documents

Title Download View
Prospectus & Fund Documents -
Fund Facts -
Fund Commentary -
Schedule of Investments -
Annual Proxy Voting -

Due to rounding, some values may not total 100%.

Strategy

The portfolio management team is responsible for portfolio construction and risk management and seeks to add value through security selection and active management while building a well-diversified portfolio with a prudent level of risk relative to the non-investment grade peer group of funds. The team uses fundamental and other investment research techniques to determine which securities to buy and sell. Through rigorous credit research, the analysts seek to identify municipal bonds (both investment grade and below investment grade) that are issued by entities with strong fundamentals and sufficient cash flows to meet their principal and interest obligations. The Fund’s holdings may be concentrated in certain sectors including health care and education. The Fund may utilize derivatives to manage duration, or interest rate risk.

Risk

Municipal bonds may be affected by political or economic conditions at the state, regional or federal level. Debt securities are subject to risks such as declining prices during periods of rising interest rates and credit risk, or the risk that an issuer may not pay its debt. High yield securities are subject to increased credit risk as well as liquidity risk. The use of futures contracts involves additional risks such as a loss in value in the underlying instrument, which could decrease the Fund’s value. The Adviser’s assessment of investments may prove incorrect, resulting in losses or poor performance. When bond inventories are low in relation to the market size, there is the potential for decreased liquidity and increased price volatility. The Fund’s value is influenced by the performance of the broader market. In unusual circumstances, the Fund could experience a loss when selling portfolio securities to meet redemption requests for a variety of reasons. Changes in federal income tax laws or rates may affect both the net asset value of the Fund and the taxable equivalent interest generated from securities in the Fund. Some issues may be subject to state and local taxes and/or alternative minimum taxes (AMT). These and other risks are described in the prospectus.

Individual Investors


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